PART II. 
DIRECT BRANCH, AGENCY, AND REPRESENTATIVE OFFICES OF



FOREIGN
BANKS



 



[§412:13-200]  Purpose.  Consistent with
the federal International Banking Act, the Bank Holding Company Act, the
Federal Deposit Insurance Act, and the Interstate Banking and Branching
Efficiency Act, this part is intended:



(1)  To authorize banking activities and operations,
under state licenses issued by the commissioner, of direct branch and agency
offices in this State of foreign banks, generally under terms and conditions not
less favorable than the terms and conditions under which the activities and
operations may be conducted by federal branch or agency offices of foreign
banks in the United States, and to set forth a statutory framework for the
licensing, regulation, and supervision of state-licensed offices of foreign
banks by the commissioner to assure the safe and sound operation of the offices
that are licensed under the laws of this State; and



(2)  To authorize representative offices in this State
of foreign banks, and to set forth statutory provisions governing the licensing
and supervision of these offices by the commissioner. [L 1996, c 155, pt of §2]